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g-man430

Greenville's housing market is booming.

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I have a link this time. Greenville's housing market is continuing to grow and does not seem to be letting up anytime soon. Greenville County saw a record number of housing permits issued in 2006 and may even set a new record in 2007. I think this is great news for the area and hope it continues well into the future. Unfortunately, the counties surrounding Greenville in South Carolina are starting to see housing permits fall, but hopefully they'll pick back up and be in the black and not in the red during 2007. Thoughts and opinions on this would be greatly appreciated. The story on this from the Greenville Journal can be seen here: http://www.acadiasc.com/images/pdfs/01192007_GVJ_mrg.pdf

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While I agree that its a good thing that they continue to build houses in the county, I think in a way, they may be over saturating the market somewhat. Drive around simpsonville/greer/mauldin etc. and you can find clear-cut new development after new development, all pretty much the same, and many fairly empty. I think the builders may be out pacing the growth by quite a bit!

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While I agree that its a good thing that they continue to build houses in the county, I think in a way, they may be over saturating the market somewhat. Drive around simpsonville/greer/mauldin etc. and you can find clear-cut new development after new development, all pretty much the same, and many fairly empty. I think the builders may be out pacing the growth by quite a bit!

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I seriously doubt that. These home builders wouldn't risk wasting so much money on a potential loss. You may be looking at brand new developments that have yet to "catch fire." I have yet to see a development fail to fill up soon after being built in the Greenville area. The growth in population is incredible right now, and there is no apparent sign of a slowdown in sight.

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Thornton Hall and Braemore say 'Hi'. Overall, though,you are right. Builders are keeping up with a demand. The number of houses on the market at any given time has stayed pretty level for the past few years.

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Yes, Thornton Hall is just off N. Main. The developer marketed it for over a year, sold 3 homes, then declared bankruptcy in late 2005. Suntrust then foreclosed on it.

....

After doing a little investigation, it looks like TIC Properties purchased Thornton Hall in December. With the amount of holdings they have, I would imagine that they would be able to market the property correctly and make it a success. I will be glad to see this neighborhood filled out.

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Yes, Thornton Hall is just off N. Main. The developer marketed it for over a year, sold 3 homes, then declared bankruptcy in late 2005. Suntrust then foreclosed on it.

....

After doing a little investigation, it looks like TIC Properties purchased Thornton Hall in December. With the amount of holdings they have, I would imagine that they would be able to market the property correctly and make it a success. I will be glad to see this neighborhood filled out.

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I am pretty sure that this was the developer's first foray into development. He owns the main house on the property. I believe that a couple of the others are owned by family members. There was only one house that was built by/for someone else.

The owner/developer owns an equipment company that sells construction equipment, or at least he did a few years ago.

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While I agree that its a good thing that they continue to build houses in the county, I think in a way, they may be over saturating the market somewhat. Drive around simpsonville/greer/mauldin etc. and you can find clear-cut new development after new development, all pretty much the same, and many fairly empty. I think the builders may be out pacing the growth by quite a bit!

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What's the subdivision called? I've been looking at some of the different ones down that way?

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That's a lot of houses. Just more growth towards the southern connector and in the direction of Powdersville...

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Thanks for the info g-man. Looks like the connector is finally building up fairly quickly. I've noticed my last few times on this road, traffic is heavier than in years past (there actually IS traffic now :lol: ). This area seems to have a bright future.

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Don't like it at all. Hope it's open farmland and not much clearcutting involved (but I'd doubt it), looks like a Southern California low-end tract house development. Seems they are trying to sell it with some "greenbelt" amenities. Should be a real "moneymaker".

:shok::) Great googly moogly. Look at this thing. 400 homes planned between Fork Shoals Road, I-385, West Georgia Road, and I-185. This will really help get more traffic on the Southern Connector if it's passed by the Planning Commission, which it mostly likely will be: http://greenvilleplanning.com/land_develop...20&%203.pdf Thoughts and opinions?

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^^^It's mostly open farmland. There seems to be some forest, but i'm not sure how much of the forested land near the river is part of the development. I checked maps.google.com using satellite imagery.

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According to the site plan, it doesn't look like any forest near the river will be cut down. The houses will be to the east of it where all the farm land is currently. There seems to be a little bit of forest in the middle of the farm land, but I think that will be part of the green space too. :)

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Wow. That would be thousands of residents. This county is going to be nothing but one giant neighborhood by 2020!

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^I don't know much about real estate, but I'd say that this probably represents more of a slowing down or softening of the market than it does a true "bubble bust."

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Some of the larger land tracts may come down as far as price per acre. Some of the prices have gotten so astronomical, I have often wondered how the developers make the numbers work.

I think there are some other areas for positive growth though.

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